Paul Ryan is a millionaire, but his net worth has increased by about 75 percent over the past decade alone. The Republican politician who is now running for speaker of the House owes a great deal of his wealth to his wife, Janna Ryan. However, a series of very smart investments has also helped his portfolio.
Here’s what you need to know.
1. Paul Ryan is Worth Between $2 and $8 Million
Paul Ryan is worth somewhere between $2.1 million and $7.8 million, The Seattle Times reported, based on federal financial disclosure forms. The forms allow officials to share ranges of their net worth rather than exact values. In 2010, the Ryans purchased a home for $421,000 that has six bedrooms and is 5,786 square feet. The house is on the same block where Ryan grew up.
Although he has a lot of money now, Ryan started out humbly. When he was just a freshman in Congress, he took out a mortgage to buy three rental properties for somewhere between $100,000 and $250,000, Business Insider reported. By 2000, he bought a fourth property and his rentals were worth between $250,000 and $500,000. He flipped them a year later.
2. Much of His Wealth Comes From His Wife’s Inheritance
Much of Ryan’s wealth actually comes from his wife, Janna. After Janna’s mother passed away in 2010, she inherited between $1 million and $5 million, The Seattle Times reported. Her parents, Dan and Prudence Little, were very successful oil and gas mineral rights lawyers in Oklahoma, the LA Times reported. But an even greater percentage of Janna’s family’s wealth comes from her grandfather, Reuel Winfred Little. In 1927, he graduated from the University of Oklahoma law school with just $25. He became a millionaire several times over, once from a patent, once from legal work, and once from redeveloping military housing.
3. Paul Ryan’s Net Worth is in Range with the Average Congressman
Although Paul Ryan’s net worth sounds incredible, it’s actually about average for a Congressman. The Center for Responsive Politics said that the 2010 average salary of a Congressman is $5.9 million. This may be average for a Congressman, but it’s far above the average for a middle-class worker.
4. He Is Part of Several Investment Partnerships and Home Depot
Ryan’s money also comes from several strategic investment partnerships. He owns a little over 21 percent of Ryan Limited Partnership, which was worth between $100,000 and $250,000 in 2011, Business Insider reported. The partnership has grown through smart diversification. He also has a stake in Ryan-Hutter, an investment partnership worth between $250,000 and $500,000. One of Ryan-Hutter’s big wins has come through investments in Home Depot. Ryan’s also invested in Red River Pine LLC, a timber interest company, and he has a small stake in the oil industry and a mineral and mining company.
5. Ryan Also Invests in Technology
Ryan also enjoys investing in technology. He has several mutual funds that invest in technology and he has $2,000 to $30,000 in Apple, according to Business Insider. He also has up to $15,000 in Google stock, IBM, and Oracle. Not only that, he used to own stocks that he later sold in HP and Intel.